Recently, many sellers have stated that their stores have received notifications from Amazon: According to Article 9 of Amazon's "Business Solutions Agreement", if your total sales revenue on Amazon exceeds $10,000 in any one month, or if Amazon requires it, you Commercial liability insurance must be purchased and renewed within 30 days.
First of all, we need to know why the seller should take out commercial liability insurance?
The platform insurance policy is to improve the protection of cross-border e-commerce products from the seller's store to the buyer's use. situation) do not need to pay for the high compensation and the problem of asking a lawyer to respond to the lawsuit. It is good for sellers, and it also allows buyers to feel at ease and assured of the use of the purchased products.
Do I have to buy commercial liability insurance, or not?
The store has received the insurance email sent by Amazon, and must upload it within the specified time, otherwise Amazon will freeze your store balance withdrawal in the first stage, and the SKU of the store in the second stage will not be able to be sold. From September 1, 2021, sellers need to purchase product liability insurance when their monthly sales on Amazon reach $10,000. Eligible sellers remember to purchase insurance to prevent the risk of store bans to a certain extent.
So how do sellers and friends choose a reliable insurance?
Let's take a look at the requirements for insurance on the Amazon platform
In particular, look for 4 criteria:
Formal: The insurance rating is A for 6 years. Safe: After confirming that the insurance requirements are met, the package is fully refunded.
The Amazon seller liability insurance launched exclusively by Dowsure bean bag X Dadi Property & Casualty Insurance is a very cost-effective choice, formal, professional, safe and convenient. And based on the needs of sellers, we will focus on optimizing the insurance process! The time limit for issuing orders is as fast as 5 minutes; the insurance process is more convenient and easy to operate!
Compared with many domestic insurance companies, Continent Insurance is one of the few high-quality insurance companies that has been rated as A-level for 6 consecutive years. Whether it is mainland stores, overseas stores, or individual stores, products can be insured. The insurance company promises to confirm that it meets the insurance requirements. If you do not pass the audit, you can get a full refund. After insured and after-sale, we will provide 24-hour claims consultation services. Compared with insurance companies with the same rating, the price of Bean Paste Bag-Continent Insurance is more affordable, and you get what you pay for. We choose safety + convenience + high Cost-effective, it is a safe choice for millions of domestic cross-border e-commerce, and everyone can rest assured to buy insurance.
China Continent Property & Casualty Insurance Co., Ltd. (hereinafter referred to as “Continent Property & Casualty Insurance”) was initiated by the Ministry of Finance of the People’s Republic of China, a national state-owned property insurance company approved by the China Insurance Regulatory Commission, and a subsidiary of China Reinsurance (Group) Co., Ltd. (stock code: 01508.HK). The only direct insurance company. China Continent Insurance has been rated A (Excellent) by Bayesian for seven consecutive years, and its solvency adequacy ratio has been above 300% for 11 consecutive quarters; it fully meets Amazon's requirements for sellers to purchase insurance companies.
A Bayesian "A" rating is equivalent to a Standard & Poor's "A" rating, as shown in the above table.
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With overseas claims settlement capability of Continental Property & Casualty
1. The most important thing for cross-border trade insurance is overseas claims processing capability
Continental Property & Casualty has established in-depth cooperation with Savite Insurance Adjuster (China) Co., Ltd. and Beijing Huatai Insurance Adjuster Co., Ltd., and hired them as claims service providers for overseas business. Among them, Savite was approved by the China Banking and Insurance Regulatory Commission Approved, the first and only international insurance adjustment agency in China to operate insurance adjustment services in China, with more than 900 outlets worldwide, providing comprehensive risk management and claims services for domestic and foreign customers.
After the consumer is out of danger, the seller will report the case to Dadi Property & Casualty Insurance as soon as possible, and the full-time staff of the VIP claim settlement service of the Amazon project will provide 7*24 hours to accept the insurance report and make a return visit to the service.
Continental Property & Casualty ensures communication within 1 working day, responds within 3 working days, and properly handles insurance claims between Amazon platform, sellers, and other third parties.
The specific process of claim settlement is as follows
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